Business
Yukon-Nevada Gold Corp. Announces Second Quarter Results for 2012
VANCOUVER, Aug. 10, 2012 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG)(OTCBB: YNGFF)(Frankfur...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Aug. 10, 2012 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG)(OTCBB: YNGFF)(Frankfurt Xetra\n Exchange: NG6) (the \"Company\") today announced its financial and operational results\n for the second quarter ended June 30, 2012. This information should be\n read in conjunction with the Company's condensed consolidated interim\n financial statements, including the notes thereto, and Management's\n Discussion and Analysis. All dollar amounts are expressed in United\n States Dollars unless otherwise specified.\n\n\nHighlights for the three-month period ended June 30, 2012 include:\n\n\nDuring the quarter the Jerritt Canyon Mill produced 25,249 payable\n ounces of gold from mining operations, compared with 19,407 ounces of\n gold produced in the second quarter of 2011.  Total ounces produced\n increased from the second quarter of 2011 as the Company processed\n higher grade ore from both the Smith and SSX mine compared with\n primarily lower grade stockpile and ore purchased from Newmont in the\n previous year.  With the replacement of the chain on the bucket\n elevator in early May, the milling operations were also able to operate\n consistently at 4,000 tons per day and from mid-May to mid-June\n averaged 4,112 tons per day.\n\nFor the three months ended June 30, 2012 the Company produced 154,893\n tons from mining operations at Jerritt Canyon, a significant increase\n from the 74,534 tons produced in the first quarter of 2012.  The\n majority of this increase was from the Smith mine as Small Mine\n Development (\"SMD\") ramped up to 1,127 tons delivered per day and\n delivered 27,959 tons more than the first quarter of 2012.  Operations\n at SSX-Steer also increased significantly during the quarter as the\n Company completed necessary electrical cabling work and took delivery\n of additional underground equipment (second quarter mining production\n was 28,151 tons higher than the first quarter of 2012).  June\n production for the Smith mine averaged 1,250 tons per day while the\n SSX-Steer mine averaged 705 tons per day (however the latter increased\n to almost 1,000 tons per day in the last half of June with the delivery\n of additional underground trucks).  This trend has continued in the\n third quarter as the Smith mine continues to average over 1,200 tons\n per day and the SSX-St...